Shareholder Meeting/Outcome of Postal_ Ballot
GYFTR · price
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LKP Finance Limited announced the results of its postal ballot conducted via remote e-voting from April 9 to May 8, 2025. Out of 5,954 eligible shareholders (as on April 4, 2025 cut-off date), only about 10.84% of outstanding shares (13,62,397 votes out of 1,25,68,623) were polled. All 17 resolutions passed with overwhelming majority, securing between 99.87% and 99.88% votes in favour. Key items included the appointment of Umesh Aggarwal as Director and Whole-Time Director, Kapil Garg and Gunjan Jain as Directors, and Hemant Bhageria, Manoj Kumar Bhatt, and Meenu Sharma as Independent Directors. Shareholders also approved shifting the registered office from Maharashtra to Haryana, six material related party transactions (with Mufin Green Finance, Hindon Mercantile, Bimapay Finsure, Mufinpay Payment Solutions, Hedge Money, and Mufin Technologies), lending beyond Section 186 limits, Section 185 transactions, and an increase in the Board's borrowing powers under Section 180 of the Companies Act, 2013.
Despite very low public participation (~1% of public non-institutional shares were voted), all resolutions sailed through because promoter group voted unanimously in favour. The approved related party transactions and enhanced borrowing powers give the Board significantly more flexibility to transact with group entities and raise debt, which shareholders should monitor for related-party risk exposure.